Mobile apps are proving to be extremely effective tools for making real estate investment decisions. App features like obtaining a property’s historical pricing data, estimating its future value, mortgage value etc. are made available as easily as tapping a button. Apps like ‘BiggerPockets’ and ‘Property Evaluator’ are living examples of such apps that are profiting immensely by making use of a couple of such useful features.

Learn from BiggerPockets App

a. This app has been installed by nearly 50,000 users.

b. With the help of the app, they expanded their community and network to over 2,56,000 profiting users.

Learn from Property Evaluator App

a. In a very small duration of time, they achieved nearly 20,000 installs.

b. Their average revenue growth is 1.3% per month that doesn’t include any ad display revenue (which is a primary source of revenue for premium apps).

From the installs, you can imagine how much customer base they have expanded; how many additional customers has linked to their brand. The data of users collected through app downloads reap another big benefits for the app owners.

A list of properties up for investment are displayed in order for the user to carry out further calculations and comparisons on its basis. Although, another app for providing complete details of the property is also a hot selling idea which we have discussed in our other study titled: Real Estate Property Information App.

Historical Pricing Data

This feature of the app displays the verified data of the pricing history of the property in the form of a line graph, bar graph or just in the form of a sheet, whichever the user chooses. This also includes other details like the year of origin of the property, its initial market price, its variations in market prices over the years and the underlying factors which affected this variation. Technically, this requires the expertise of a software company that also has a significant experience in providing Business Intelligence Services as well.

Real Estate Market Trend

To know the right value of a property, it is crucial to be informed about the current market trend of the real estate industry. This includes the market price of properties per square unit of area, the asset value of the locality in which the property is located, the tax applicable on it, the market situation of the real estate industry etc. All of this will be displayed either as a table or a detailed spreadsheet, whichever the user of the app chooses. All of this can also be downloaded, stored or even shared with others.

Property Value Calculator

This feature of the app is built to calculate, total value of the property automatically based on the data provided by current market trends. An estimate of the future value of the property, based on the historical data, and also the resale value of the property in the future is calculated and displayed. A rough estimate of the attainable mortgage too against the property is provided.

Real Estate Financial Calculator

A financial calculator is a prominent feature of this real estate app. Using this, a user can manually calculate the investment required to obtain the property based on his/her income and current savings. Using the same data, it will also come up with an estimate of the loan amount that would be required (if required) along with the time to repay the same.

Investing Tips

As an additional interactive feature, the app provides bonus tips to people looking to invest. These people could be industry veterans, other app users or any other sources that talk about current market trends, hot areas to invest in, mistakes to avoid etc. These are displayed as Push Notifications and are also stored in a section of the app.

Live Interaction

This feature is used to connect people looking to invest, with real life investors for a live chat and gain some insight about the industry and also some advice about the property they’re looking to invest in. It helps them build a strong network with other investors and also a possible future partnership.